TRUCK-MOUNTED CRANES MARKET SURGES AMIDST GROWING LOGISTICS AND CARGO HANDLING NEEDS

Truck-mounted Cranes Market Surges Amidst Growing Logistics and Cargo Handling Needs

Truck-mounted Cranes Market Surges Amidst Growing Logistics and Cargo Handling Needs

Blog Article

The global truck-mounted cranes market is witnessing strong growth momentum as infrastructure development, urban expansion, and smart construction trends continue to drive the demand for efficient and mobile lifting equipment. According to recent market analysis, the market was valued at USD 2.5 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 5.5% from 2025 to 2035. By the end of the forecast period, the global truck-mounted cranes industry is expected to reach a valuation of USD 4.5 billion.

Truck-mounted cranes are versatile lifting solutions that combine the mobility of a truck with the power and reach of a crane. They are particularly valuable for construction sites, utilities, logistics, infrastructure repair, and disaster response, where compactness, mobility, and quick deployment are essential.

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Technological Innovation at the Core of Market Growth

A major driver of this market is technological innovation in design and functionality. Key industry players are introducing compact, lightweight, and highly maneuverable crane systems that not only improve site access in dense urban areas but also enable cranes to handle heavier loads and more complex lifting tasks. This balance of size, power, and flexibility is becoming critical as project demands grow in complexity across sectors such as renewable energy, transport infrastructure, and urban real estate development.

Another significant trend is the integration of advanced digital technologies, including fleet management systems, telematics, real-time diagnostics, and automation support. These features are boosting operational efficiency, increasing job site safety, and helping project managers better track equipment performance and usage metrics across multiple job sites.

Key Players and Strategic Initiatives

The competitive landscape of the truck-mounted cranes market features several prominent global players. These companies are investing in next-generation models, strategic regional expansions, and custom solutions tailored to emerging market needs.

Major companies in the global market include:


  • SANY GROUP

  • Terex Corporation

  • Liebherr-International Deutschland GmbH

  • Konecranes Oyj

  • CARGOTEC CORPORATION

  • Elliott Equipment Company

  • PALFINGER AG

  • Tadano Ltd.

  • Hyva Group

  • The Manitowoc Company, Inc.


Each of these organizations has been profiled in the comprehensive market report based on parameters including company overview, product portfolio, financial health, strategic initiatives, and global presence. Many of them are focusing on customization and region-specific innovations, especially for customers in high-growth markets across Africa, the Middle East, Asia-Pacific, and Latin America.

Recent Industry Developments

The truck-mounted cranes market has seen several notable product launches and regional strategies aimed at tapping emerging opportunities:

  • August 2024 – The Manitowoc Company, Inc. unveiled a new series of Grove truck-mounted cranes, targeting emerging markets across Africa, the Middle East, and Latin America. Among the showcased models were the Grove TMC550, TMC250, and TMC750, each designed to deliver high productivity, operational efficiency, and environmental compliance. These models are tailored to local infrastructure challenges and underscore Manitowoc’s strategy to maintain global leadership in lifting solutions.

  • June 2024 – Liebherr made headlines with the introduction of the LTM 1400-6.1, the most powerful 6-axle crane in the world, at its facility in Ehingen, Germany. The crane features a 70-meter telescopic boom and integrates user-friendly setup processes. It replaces the LTM 1350-6.1 with a significant lift capacity improvement and is equipped with driver-assistance technology, enhancing safety for all road users. The innovation is a direct response to the growing need for more powerful, yet mobile, lifting solutions in the global construction sector.


These launches reflect the broader shift in the industry toward smart, efficient, and sustainable crane solutions that support modern construction and logistics challenges.

Market Drivers and Trends

Several macro and micro factors are driving sustained growth in the truck-mounted cranes industry:

  • Infrastructure Investments: Governments across North America, Asia-Pacific, and the Middle East are heavily investing in transportation networks, energy projects, and smart city development, all of which require mobile and efficient lifting systems.

  • Urbanization and Mega Projects: The rise of high-rise residential and commercial towers in urban centers fuels the demand for cranes that can navigate tight spaces and provide quick setup times with minimal disruption.

  • Fleet Management and Connectivity: The adoption of IoT-enabled technologies and remote fleet monitoring tools is allowing companies to optimize maintenance schedules, fuel consumption, and overall productivity, thereby reducing operational costs.

  • Environmental and Regulatory Compliance: Increasing environmental regulations are pushing manufacturers to design cranes that comply with low-emission standards, use hybrid power systems, and support reduced noise operations—particularly important in densely populated urban centers.

  • Rental Market Expansion: The growing rental services segment is offering contractors flexible and cost-effective access to advanced truck-mounted cranes without the burden of ownership, further accelerating market penetration.


Challenges to Consider

While the truck-mounted cranes market holds promising growth prospects, it is not without challenges:

  • High Initial Cost: Advanced crane models with smart technologies come with higher price tags, which can hinder adoption by small and mid-sized contractors.

  • Skilled Workforce Shortage: Operating modern cranes equipped with advanced telematics and automated systems requires a trained workforce. Shortages in skilled operators can limit market uptake in certain regions.

  • Regulatory Barriers: Diverse regulations across countries related to crane operation, safety, and emissions can pose challenges for multinational manufacturers and rental companies.


Regional Outlook

  • North America remains a key market, driven by construction of commercial complexes, smart urban development, and infrastructure modernization in the U.S. and Canada.

  • Europe is seeing strong demand for sustainable and low-emission truck-mounted cranes, with manufacturers focusing on compliance with EU environmental directives.

  • Asia-Pacific is expected to experience the fastest growth rate during the forecast period. Countries such as China, India, Indonesia, and Vietnam are investing heavily in infrastructure, roads, bridges, ports, and renewable energy projects.

  • Middle East & Africa and Latin America represent emerging growth regions. Large-scale infrastructure initiatives, energy exploration, and urbanization trends are fueling new demand for mobile crane solutions.


Outlook to 2035

Looking ahead, the global truck-mounted cranes market is on track to evolve in sync with the demands of digitally connected, sustainable, and efficient construction ecosystems. By 2035, the market’s anticipated value of USD 4.5 billion will reflect increased investments in modern construction techniques, smart equipment fleets, and environmentally compliant lifting solutions.

Future trends to watch include:

  • Integration of autonomous and semi-autonomous crane operations

  • Expansion of electric or hybrid powertrain truck-mounted cranes

  • Greater focus on data analytics and predictive maintenance tools

  • Rising adoption in offshore and renewable energy installations


As global infrastructure and smart mobility systems scale up, truck-mounted cranes will remain indispensable tools for shaping the built environment of the future. The ongoing shift toward high-tech, compact, and connected lifting solutions ensures that industry leaders remain at the forefront of innovation and performance.

 

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